Texas is considering a bill that would require the establishment of a digital currency, entirely backed by gold. The bill, which has garnered support from 43 sponsors, would require the state to ensure digital tokens are fully redeemable in gold. A private company would be contracted to establish the gold-backed digital currency. The state would also establish a fee for issuing or redeeming digital currency. A public hearing will be held on the matter on Monday. The Central Bank of Zimbabwe is also said to be planning to launch its own gold-backed digital currency to stabilise the Zimbabwe dollar and provide access to a less volatile asset.